obviously with pressure from shareholders, shifting some of the blame for this large fines to the old ibill is a standard practise. I guess thankfully for intercept the reserve covered the charge and they didn't have to dip into their own pockets.
However their claim that first data probably wouldn't asses fines greater than their reserve held was a bit of concern. Doesn't the merchant sign an agreement to cover all levied fines, fees, refunds etc. etc.,
[quote]
We have concluded that Visa fines in excess of amounts withheld by us from merchant payouts are not probable,
Last edited by meatloaf at Apr 1 2003, 09:53 PM
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